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The project charter is formally accepted and approved by the project sponsor and other designated stakeholders. Formal approval acknowledges the completion, review and acceptance of all the deliverables produced during the Initiate Stage.
The sponsor or the initiator signs the project charter. The PMBOK® Guide, 4th edition (new one) states: Projects are authorized by someone external to the project such as a sponsor, PMO or portfolio steering committee. The project initiator or sponsor should be at a level that is appropriate for funding the project.
PMBOK Definition of Project Charter: A document issued by the project initiator or sponsor that formally authorizes the existence of a project, and provides a project manager with the authority to apply organizational resources to project activities.
A project charter is important in the Project Management, because-It ensures that the project manager understands the sponsor's needs and requirements. It provides vital information needed to get the projects started. It acts as a reference document to make sure everyone (i.e. Project Manager, Stakeholder, Higher
The charter also identifies key stakeholders and the authority of the project manager. Furthermore, it's important for the project manager to lead draft of project charter because the project has a variety of tasks. Furthermore, it is necessary to identify specifically all steps or parts, and the team members could match for every task.
The project charter establishes the authority assigned to the project manager, especially in a matrix management environment. Furthermore, it is considered industry best practice. The purpose of the project charter is to document: Reasons for undertaking the project. Objectives and constraints of the project.
The project charter includes: The purpose and objectives of the project in clear, concise language. Requirements of the project, very high level, not much detail here. You should mark the major milestones, so everyone agrees on deliverables or activities that can be expected before the end date of the project.
A project charter is important in the Project Management, because-It ensures that the project manager understands the sponsor's needs and requirements. It provides vital information needed to get the projects started. It acts as a reference document to make sure everyone (i.e. Project Manager, Stakeholder, Higher
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